Annual General Meeting 3 June 2020
Outl tline ne Financial and Business Highlights 3 1 Looking Ahead 9 2 The information contained in this presentation is for information purposes only and does not constitute or form part of, and should not be construed as, any offer or invitation to sell or issue or any solicitation of any offer or invitation to purchase or subscribe for any units (“Units”) in Keppel Infrastructure Trust (“KIT”) or rights to purchase Units in Singapore, the United States or any other jurisdiction. This presentation is strictly confidential to the recipient, may not be reproduced, retransmitted or further distributed to the press or any other person, may not be reproduced in any form and may not be published, in whole or in part, for any purpose to any other person with the prior written consent of the Trustee-Manager (as defined hereinafter). This presentation should not, nor should anything contained in it, form the basis of, or be relied upon in any connection with any offer, contract, commitment or investment decision whatsoever and it does not constitute a recommendation regarding the Units. The past performance of KIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking" statements due to a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar businesses and governmental and public policy changes, and the continued availability of financing in the amounts and terms necessary to support future business. Such forward-looking statements speak only as of the date on which they are made and KIT does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Accordingly, you should not place undue reliance on any forward-looking statements. Prospective investors and unitholders of KIT ("Unitholders") are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of Keppel Infrastructure Fund Management Pte. Ltd. (as trustee-manager of KIT) ("Trustee-Manager") on future events. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained in this presentation. The information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material information concerning KIT. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, KIT, the Trustee-Manager or any of its affiliates and/or subsidiaries. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Trustee-Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units. The information contained in this presentation is not for release, publication or distribution outside of Singapore (including to persons in the United States) and should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations. This presentation is not for distribution, directly or indirectly, in or into the United States. No Units are being, or will be, registered under the U.S. Securities Act of 1933, as amended ("Securities Act"), or the securities laws of any state of the U.S. or other jurisdiction and no such securities may be offered or sold in the U.S. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state or local securities laws. No public offering of securities is being or will be made in the U.S. or any other jurisdiction. 2
Financial and Business Highlights Ixom
Portfol tfolio io of strategic ategic busi usine nesses sses and d assets ts acro ross ss a broad oad rang nge e of highly hly defensive nsive indu dustri stries Distribution & Network Energy Waste & Water ✓ All ll busi busines ness and and ass assets ets in in Si Sing ngap apore, re, Austr strali alia an and New Zealand and are clas assifi fied as as essen enti tial al servi vices es ✓ No No impact pact to to ope perati ations ns du during ng the the COVI COVID-19 19 pandemic demic 4
Key Highlig light hts s Consis iste tent ntly delive vered red for FY 20 2019 stable le and regular lar distr trib ibut utions ions 3.72 2 cents 3.72 cents 3.72 cents 3.72 cents Distri ributab utable Cash Flows $188. 8.7m 7m 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 33.7% YoY increase from FY 2018 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 Strat rateg egic Acquis uisition on FY 2016 FY 2017 FY 2018 FY 2019 Ixom om 1Q 2Q 3Q 4Q Strengthened and diversified KIT’s portfolio rative Yields (1) Comparativ Low Gearing 7.0% 5.0% 32.8 .8% 4.7% Comfortable debt 0.8% 0.4% headroom to pursue growth opportunities (2) 5 Yr SG Govt bond 10 Yr SG Govt bond STI FTSE ST REIT Index KIT Information as at 31 December 2019, unless otherwise stated. (1) Sources: Bloomberg and Monetary Authority of Singapore. Comparative yield based on preceding 12-month data as at 29 May 2020 5 (2) Based on the market closing price per Unit of $0.535 on 29 May 2020.
1Q 20 2020 Key Results ts Highligh ights ts Stable ble DPU 0.93 3 cents ts Supported by resilient cash flows from a diversified portfolio of businesses and assets Resili ilien ent Distri ributa butable ble Cash Flow ows $51.1m 1m 5.6% YoY increase over 1Q 2019 Annu nualis lised ed Yiel eld (1) 8.8% Based on the market closing price per Unit of $0.425 as at 31 March 2020 Low Geari ring 33.7% .7% Comfortable debt headroom to pursue growth opportunities Information as at 31 March 2020, unless otherwise stated. 6 (1) Based on the market closing price per Unit of $0.535 on 29 May 2020, annualised yield would be 7.0%.
1Q 20 2020 Busine ness ss Update tes s City Gas • Customer base grew 1.6% YoY to 863,000 in 1Q 2020 • Achieved 100% availability • Continue to ensure town gas supply is maintained to support essential requirements in Singapore in the current pandemic Ixom • Continued to deliver resilient performance despite the challenging Distri ributi ution on & operating environment caused by the onset of the COVID-19 pandemic Netwo work rk in March 2020 ▪ City Gas • Stepped up efforts to ensure vital chemicals are available to support ▪ Ixom the populations and economies of Australia and New Zealand in this ▪ Basslink critical period • Well positioned to capture long-term growth opportunities through strengthening its market leading position, operational and cost optimisation and productivity improvements Bassl sslink nk • The Commercial Risk Sharing Mechanism was positive at 12.5% due to higher volatility in the electricity market in Victoria in 1Q 2020 7
1Q 20 2020 Busine ness ss Update tes Energ rgy ▪ Keppel • Achieved 100% of contracted availability Merlimau • Advanced discussions with lenders for the refinancing of the KMC loan Cogen (KMC) Waste e & Water er ▪ Senoko WTE Plant ▪ Tuas WTE Plant • Fulfilled all contractual obligations and operations remained stable ▪ Ulu Pandan NEWater Plant ▪ SingSpring Desalination Plant 8
Looking Ahead Senoko WTE Plant
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